Arbuthnot Securities has hired a four-strong team of equity analysts from Bell Lawrie, part of Brewin Dolphin Securities, in a move that brings the number of staff in its research group to 15.

The new analysts, who are expected to join Arbuthnot in early autumn after a period of gardening leave, have worked together in Glasgow for the past six years, and Arbuthnot will open a new office in the Scottish city to house the new team.

Ian McInally joins Arbuthnot as an analyst covering emerging companies and support services companies, while David Cunningham will cover alternative energy and technology companies. Both have previous experience on the buyside before working at Bell Lawrie.

Iain MacArthur will be a consumer goods and financial analyst, while Tracy MacKenzie will look after oil and gas stocks.

Mark Brown, chief executive of Arbuthnot, said the new hires will help the company build on its growing equity research business.